Tesla has denied reports it has begun searching for a replacement for its controversial chief executive Elon Musk.

The Wall Street Journal had reported the electric vehicle giant had been in contact with recruitment firms to launch a hunt for a new chief executive.

But this morning, Tesla released a statement branding the report "absolutely false", adding: "The board is highly confident in [Mr Musk's] ability to continue executing on the exciting growth plan ahead."

The BBC reports Tesla chair Robyn Denholm wrote on social media platform X, which is owned by Musk: "There was a media report erroneously claiming that the Tesla board had contacted recruitment firms to initiate a CEO search at the company.

"This is absolutely false (and this was communicated to the media before the report was published).

"The CEO of Tesla is Elon Musk."

FTSE 100

The UK's flagship share index, the FTSE 100, was up 14-points at 8,495 shortly after opening this morning.

Brent crude oil futures were down 0.67% trading at $60.63 a barrel.

Companies reporting today:

Amazon* - Q1 Results

Apple* - Q2 Results

Cameco* - Q1 Results

Eli Lilly and Co* - Q1 Results

Endeavour Mining - Q1 Results

Hiscox - Q1 Trading Statement

Lancashire Holdings - Q1 Trading Statement

London Stock Exchange Group* - Q1 Trading Statement

Lloyds Banking Group* - Q1 results

Mastercard* - Q1 Results

Morgan Sindall Group - Half Year Trading Statement

McDonald's* - Q1 Results

Persimmon* - Q1 Trading Statement

Whitbread* - Full Year Results

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